Earn 4%¹ everyday with Neo

Open a Neo High-Interest Savings account with Canada’s #1 rated financial app².

Got questions?
We’ve got answers.

The Neo High-Interest Savings account is provided by Peoples Bank of Canada.

The Neo High-Interest Savings account is provided by Peoples Bank of Canada, a CDIC member institution, and is eligible for CDIC deposit protection. Deposits held in Neo High-Interest Savings accounts are combined with eligible deposits held at Peoples Bank of Canada, for up to $100,000 of deposit protection, per category, per depositor. For more information about CDIC deposit insurance, please consult CDIC’s website cdic.ca.

There are no transaction fees applicable to the Neo High-Interest Savings account. If you require a printed version of a monthly statement or other document, a $5 fee applies for each printed document.

Neo AI is an educational tool and shouldn't be used as a source of financial advice, answers provided by Neo AI may not always be accurate.

Cashback is earned on eligible purchases at Neo Partners. See the Neo Rewards™ Policy for details on earning cashback and other terms and conditions that apply. Cashback, perks, insights, and other offers and rewards are operated by Neo. Third-party merchants may have minimum age requirements.

¹ Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.

² Based on research comparing and limited to: BMO, CIBC, KOHO, PC Financial, EQ, RBC, Scotiabank, Tangerine, TD Bank, Wealthsimple, and Simplii Financial app ratings in the App Store and Google Play. Research conducted by Neo Financial on December 12, 2023.

³ Account only available to Canadian residents. You must be at least 13 years of age if you reside outside of Quebec; if you reside in Quebec you must be at least 14 years of age.

Limited-time offer. This offer is only valid for new Neo customers. Limit of one offer per customer, this offer cannot be combined with other promotional codes. Offer is subject to the Neo Rewards Policy and may be amended or cancelled at any time without notice. Third party terms and conditions may apply.

⁴ Based on research of high-interest savings accounts, comparing and limited to: BMO, CIBC, Scotiabank, TD Bank, RBC, Simplii Financial, Desjardins, and Tangerine. Research conducted by Neo Financial and based on data taken from public websites on November 28, 2023. Research includes promotional offers with a term of 0-5 months.

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Create your account in minutes.

Savings made simple
and secure

Saving is better with Neo

Do I need a minimum deposit or balance on my account?
No—you get to save every bit possible, so you can focus on knocking off your financial goals and setting new ones. It’s a savings account after all.

How do you calculate interest?
Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.
Earn 4.00% interest¹ on your entire balance, no matter if you're a new or an existing member. Neo offers one of the highest rates in Canada, and it's not an introductory or promotional rate.

Is my money insured?
The Neo High-Interest Savings account is provided by Peoples Bank of Canada, a CDIC member institution, and is eligible for CDIC deposit protection. Deposits held in Neo High-Interest Savings accounts are combined with eligible deposits held at Peoples Bank of Canada, for up to $100,000 of deposit protection, per category, per depositor. For more information about CDIC deposit insurance, please consult CDIC’s website cdic.ca.

How do I open a high-interest savings account with Neo Financial?
You can get a Neo High-Interest Savings account in less than three minutes. You just need to be over 13 years old (14 in Quebec) and have a Canadian SIN. When your application for a Neo High-Interest Savings account is approved, you can add funds to start earning interest right away! Create a profile to start saving from a Neo High-Interest Savings account.

Do you have a monthly fee?
No—you shouldn’t have to pay to save money. That’s why the Neo High-Interest Savings account has no monthly fees. Every dollar you deposit goes directly into earning interest and growing your money.

Do you charge a fee for moving funds?
No—we don’t charge a fee for moving funds. You can transfer funds into your Neo HISA to grow your money quicker or move money into your Neo Money™ account to make transactions. Learn more about sending an INTERAC e-Transfer®, paying bills, or completing other transactions with a Neo Money™ account.

When do I earn interest in my HISA?
Interest is calculated daily based on your total closing balance and paid at the start of the following month. You earn compound interest in your HISA, calculated from your principal and accumulated interest.

Reach your saving goals faster

Make your money go further with a 4%¹  interest rate that doesn’t expire, unlike special offers or promotional rates from other banks that may not last.

Personalize your goals, track your progress and grow your
savings securely from your phone.

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Open a Neo High-Interest Savings account in minutes.

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